BZ

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	PopdexBZUSDT	100.51	−0.0016	get 0.0002% / 1h	14m 44s	$441K	$419K	20x	Long Popdex
SHORT	PhemexXBRUSDT	100.47	0	0.0000% / 4h	3h 14m	$1.2M	$52K	100x	Short Phemex

Price gap−0.039%

Funding gap+0.0016% /8h

Funding pays $0 a day on $10k, but the gap is 0.060% under its 7d average: −$6 if it goes back, about 12 days of funding.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding−$4+0.0016% /8h now · paid −0.044% over the last 7D

Price−$6spread −0.039% now, avg +0.021% → −0.060% if it goes back

Costs−$1721.719% of $10k · taker + slippage, in and out

Result−$182−1.82%no pointsWhat the last 7D really paid, hour by hour → backtest

Price and funding

1h · history

Entry / Exit

Price spread

Prices

Fundingper 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now−0.039%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

BZ on 31 exchanges

lowest funding first

Before you open

0 ok · 5 to watch

Watch: Thin at this size4.6 / 79.9 bp
At $10k entering Phemex costs 79.9 bp, fee and slippage, 17.4× Popdex’s.
Note: Margin at max leverage$500 + $100
Popdex 20x, Phemex 100x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
Watch: Payment intervals differ1h / 4h
Payments land at different times. Close right after the slower leg pays.
Next 24h at the current rates, on $10k a leg: +$0.48Long Popdex: 24 payments, +$0.48; short Phemex: 6 payments, $0.00.
Watch: Gap narrower than usual−0.039% vs +0.021%
Less room for the price leg to pay you. If it goes back to average, the short loses.
Watch: Long leg is thinner$441K vs $1.2M OI
Popdex sets your exit cost. Check its book before closing.
Note: No points program—
Neither exchange runs points right now.
Watch: KYCPopdex No · Phemex Yes
KYC unlocks spot and futures trading; an unverified account cannot withdraw at all.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned−0.0021%/8h × 21 periods−$4.36

Price spread−0.039% → +0.021% (7d avg)−$5.96

Slippage, 4 orderslive order books−$153.55

Fee Popdex bp × 2 orders−$6.40

Fee Phemex bp × 2 orders−$12.00

Net · 7 days · $10k−$182.26

Costs to cover1.719%Break-evennever at this rate

Slippage: Popdex: live order book, 59 min ago; Phemex: live order book, 1 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGPopdex0.654.6 bp−$57.8 bp−$78doesn’t fitdoesn’t fit

SELL · SHORTPhemex8.4579.9 bp−$80156.5 bp−$1,565doesn’t fitdoesn’t fit

Closing costs about the same again.

BZ news

posts that mention BZ or Brent crude, from every exchangeSearch all news →

09-30 18:40	Hotstuff	Listing	BRENTOIL-PERP no longer reported ($BZ) seen by our collector
09-29 11:00	gTrade (Gains Network)	Listing	BRENT/USD no longer reported ($BZ) seen by our collector
09-23 02:03	SoDEX	Listing	📊 SoDEX 24h Movers · Sep 23 61 of 93 markets higher. Brent crude fell below $95 as US-Iran direct talks at the UN signaled easing tensions, weighing on oil-linked assets. Fed officials Barkin and Collins kept a hawkish tone, leaving the door open for further hikes. CME's upcoming BCH and UNI futures listing continued to drive major gains in those tokens. What moved them bitcoin-cash:native · CME Group announced it will list BCH futures on October 19, news continued to drive buying interest. UNI · CME listing UNI futures on Oct 19, plus Uniswap handles over 99% of Robinhood Chain stock token DeFi deposits. DASH · DoorDash agreed to a $131.5M settlement with NYC, resolving the courier minimum-wage investigation and removing regulatory overhang. ZHIPU · Anthropic accused Chinese AI firms of model distillation and CAC launched probes into DeepSeek and Moonshot, pressuring Chinese AI stocks. MINIMAX · Same Anthropic distillation accusations and CAC probes into Chinese AI companies weighed on the sector. 61 up · 31 down · 1 flat across 93 perp markets. 25 also trade spot. Amid Fed hawkishness and Brent's drop below $95, Layer 1 Season posted record Week-3 open interest of $155M, with 17 weeks remaining. SoDEX Layer 1 Season campaign is ongoing since September 1; Week 3 open interest hit an ATH of $155M, with 17 weeks remaining. Trade 👉 @sodex_official on X ↗
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09-16 15:02	Deribit	Listing	🚨 More To Trade. Tomorrow, September 17, 2026, at 10:00 AM UTC, 11 more equity perpetual markets and 4 commodity perpetuals will go live on Deribit. All settled in USDC. Equities LITE · SKHY · SOXL · CBRS · SNDK · ARM · BE · NBIS · EWY · MU · DRAM Commodities GOLD · SILVER · BRENTOIL · WTIOIL This launch is part of Deribit’s biggest-ever product expansion: more than 90 new USDC-settled perpetuals across crypto, listed equities and ETFs, commodities, the COIN50 index and private-market valuations. Read more: Disclaimer: Equity & Commodity perpetuals are offered by Deribit FZE under its Limited Licence Approval from VARA, and are subject to the conditions, client eligibility criteria and restrictions of that approval. @DeribitOfficial on X ↗

BZ